Abstract

Cybercrime, and in particular fraud, is a booming business. Every week we are faced with another story of a business becoming the latest victim of cybercrime or shocking statistics about the rising levels of fraud. Just recently, PwC published a report that found that in the past two years, half of UK organisations have been the victim of an illegal act committed by an individual or a group to obtain a financial or professional advantage.1 In fact, cybercrime, it was revealed, is the fastest-growing fraud, with a 20% increase since 2014, in comparison to some of the traditional forms of economic crime such as bribery, asset misappropriation and procurement fraud.

References 4

‘Beware ‘CEO fraud’ costing British businesses millions: Workers warned to watch out for bogus requests from bosses to transfer money as one firm loses £18.5m’. This is Money, 1 Mar 2016.

Boyce Lee

3.

‘The UK clocked up £732m worth of fraud in 2015, up from £717m the year before, with crimes committed in London and the South East accounting for more than half the value’. City AM, 19 Jan 2016. Accessed Mar 2016.